Stingray investment marks new phase of growth for The Podcast Exchange
It’s official - Stingray has acquired a 30% interest in The Podcast Exchange. This new partnership represents an exciting leap forward in the growth and development of the Canadian podcast industry in 2020.
Stingray is a leading music, media and technology company in Canada, known for its audio TV channels, radio stations and music apps. The company is based in Montreal, with more than 1,200 employees worldwide - including offices in Toronto, where TPX primarily operates.
This new strategic partnership will help both companies work with brands and advertisers to increase investment in the podcast space, known for its affluent, educated and younger, deeply engaged listenership. For Stingray, the addition of more than 70 million monthly podcast ad impressions to their inventory of digital audio and radio products will complement and enhance their existing offers, while helping their advertising clients reach the key 18-34 demographic. The partnership will allow TPX to grow its sales team, and invest further in branded podcast production and consulting in 2020.
Here at TPX, we couldn’t be more excited - we’ve been working on this partnership since the start of the year, so it’s a great feeling to be able to share the news and finally begin this next phase of growth.
Our sales team has been going full steam (and then some) for many months now, and it’s been fantastic to see how many agencies have doubled down in the space this year. We’re seeing lots of return customers with increased budgets, as well as new clients who are just beginning to realize the exciting opportunities podcast audiences offer. Bob Kane (VP of Sales) and Erin Grevstad (Sales & Marketing Manager) are a highly efficient, skilled and knowledgeable duo, and they do a remarkable job. But as the market grows and demand increases, they’re really looking forward to expanding their team.
From ad sales to consulting and production, TPX’s model is based on forging profitable partnerships inside Canada and across the globe.
I (Jeff Ulster) am also really looking forward to officially launching our branded podcast production and consulting services. We’ve had requests from many agencies with brands who are interested in developing podcasts to deepen relationships with their customers, and reach new ones. We’ve also been approached to help companies with their podcast strategies. Because our focus has been clearly on our core service of ad sales since we launched in 2018, many clients don’t know that we can offer great value with these additional services. It’s work we’ve been scaling up quietly. Over the last few years, I’ve had the pleasure of working with a list of clients that includes Fidelity Investments, Enterprise Investments, Cineplex, Cogeco Media and Fadoo, among others. Now we’re ready to share our expertise more widely, thanks to our partnership with Stingray.
Jean-Marie Heimrath and I are thrilled to see how far TPX has come, and we’re even more stoked about the company’s future. Having co-founded and launched the company only two years ago, we’ve gone from knocking on agency doors and explaining to clients what podcasting is, to barely keeping up with the ever-increasing demand for inventory and expertise. With Stingray on board, we have the resources and positioning to grow our team to meet that demand, as well as expand our services.
There’s still so much work to be done, and the industry is just beginning to grasp its potential here in Canada. With the enormous buzz and consistent growth happening in the global podcast industry, we couldn’t be more excited about the great opportunities ahead in Canadian podcasting.
more TPX news: terry o’reilly launches new podcast
TPX is also thrilled to announce our new partnership with advertising, radio and podcast guru Terry O’Reilly. Terry and his team have just launched the Apostrophe Podcast Company, building on the success of Terry’s incredibly popular radio show and podcast, Under the Influence.
The first podcast out of the gate for Apostrophe is called We Regret to Inform You, telling the fascinating stories of famous people who overcame debilitating career rejections to achieve remarkable success.
TPX is pleased to be offering exclusive sponsorship and sales opportunities for agencies and brands to advertise on Terry’s new show. Reach out to our sales team to get involved!
Do you like keeping up on what’s going on in podcasting in Canada and around the world? The Podcast Exchange wants to bring that right to your email inbox every month. We’d love for you to have a look at our newsletter, and share your feedback with us.
Each month the newsletter features the TPX blog of the month, the must-read headlines about the podcast industry, some recommended podcasts and some insights about podcast listening from the latest research.
Subscribe for free, and let us know what you think!